Delek Group’s year of recovery ends on NIS 1.43b profit
Delek Team (TASE: DLEKG), controlled by Yitzhak Tshuva, has released success for 2021 exhibiting restoration immediately after the critical crisis that it went through in 2020. The business posted a net income of NIS 1.43 billion last calendar year, which compares with a net loss of NIS 1.82 billion in 2020.

Continued superior general performance of the group’s main oil and gasoline output property led to a 19.5% increase in profits to NIS 8 billion in 2021. The success had been also favorably impacted by a 15.7% tumble in finance expenses to NIS 1.93 billion.




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Delek Group has a current market cap of NIS 8.2 billion, soon after a 184% rise in its share price on the previous yr in reaction to the advancement in the firm’s company and the soar in oil prices. Shareholders’ equity at the end of 2021 was NIS 2.6 billion, up from NIS 2.1 billion at the close of 2020.

In the fourth quarter of 2021, earnings totaled NIS 2.26 billion, which compares with NIS 1.63 billion in the corresponding quarter of 2020. Web earnings in the fourth quarter was NIS 628 million. This compares with a net revenue of NIS 1.1 billion in the fourth quarter of 2020. That quarter’s results have been affected by a just one-time acquire of NIS 900 million resulting from the reversal of a publish-down of the oil and gas belongings of subsidiary Ithaca Vitality.

Delek Group’s share cost is up 3.45% on the Tel Aviv Inventory Trade this morning.

Revealed by Globes, Israel small business news – en.globes.co.il – on March 30, 2022.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.


